decided to deposit ISK 200, 000. deposit into a bank account, annually, for the next 5 years, which is then a total of ISK 1, 000, 000. The first payment is in exactly 1 second (ie immediately) and then there are 4 payments after that. Interest on the account is 8% per annum for the first 2 years and then 6% per annum after that. How much will Jóna have in the account after 5 years? Group of answer choices ISK 1, 267, 186 ISK 1,210, 023 ISK 1, 277, 538 No
decided to deposit ISK 200, 000. deposit into a bank account, annually, for the next 5 years, which is then a total of ISK 1, 000, 000. The first payment is in exactly 1 second (ie immediately) and then there are 4 payments after that. Interest on the account is 8% per annum for the first 2 years and then 6% per annum after that. How much will Jóna have in the account after 5 years? Group of answer choices ISK 1, 267, 186 ISK 1,210, 023 ISK 1, 277, 538 No
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Jona has decided to deposit ISK 200, 000. deposit into a bank account, annually, for the next 5 years, which is then a total of ISK 1, 000, 000. The first payment is in exactly 1 second (ie immediately) and then there are 4 payments after that. Interest on the account is 8% per annum for the first 2 years and then 6% per annum after that. How much will Jóna have in the account after 5 years? Group of answer choices ISK 1, 267, 186 ISK 1,210, 023 ISK 1, 277, 538 None of these are correct ISK 1, 276, 558 ISK 1,410,023
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